March Recap: Largest Plant-Based Food Stocks

Image by Sean Hayes from Pixabay

With all the hype regarding plant-based foods you would think that there would be many pure-play companies in the sector but there are only 3 that have market caps in excess of $100M. Those are the companies we track in our munKNEE Plant-based Food Stocks Index. They are presented below as to:

• their stock performances for the month of March 31st and YTD;
• their likelihood of Financial Distress within the next 2 years (according to data from macroaxis.com), 
• their average 12-month Price Targets,
• the extent of Short Interest, 
• the degree of Insider Ownership (all from SeekingAlpha.com) and
• their current market capitalizations.

1. Tattooed Chef (TTCF): UP 12.7% in March; UP 14.5% YTD
   • Offers a broad portfolio of plant-based food products that are available in the frozen food sections of national retail food stores across the United States.
   • 3 analysts:
     • have an average 12-month price target representing a 52.8% increase from the March 31st price and
     • have a consensus Hold rating (all 3 analysts).
   • In addition, TTCF has:
     • a 26% chance of Financial Distress within 2 years,
     • a high 33.8% Short Interest,
     • a 41% Insider Ownership. and 
     • a current Market Capitalization of $105M.
   • Read: Tattooed Chef: Insolvency Risk And Speculative Growth
     • Tattooed Chef: One More Hurdle To Entry Point, Wait For The Greenlight
2. Oatly Group (OTLY): UP 10.0% in March; UP 39.1% YTD
   • The world’s largest oat drink company catering primarily to customers in Sweden, Germany, the United Kingdom, Netherlands, Finland, and North America.
   • 12 analysts:
     • have an average 12-month price target representing a 91.3% increase from the March 31st price and
     • have a consensus Buy rating (9 Buy, 3 Hold).
   • In addition, OTLY has:
     • a 30% chance of Financial Distress within 2 years,
     • an 8.2% Short Interest,
     • only a 1.6% Insider Ownership and
     • a current Market Capitalization of $1.280B.
   • Read: Oatly stock is defended at BofA with liquidity on the mend
3. Beyond Meat (BYND): DOWN 9.0% in March; UP 33.0% YTD
   • Seeks to replicate the look, "cook", and taste of meat. Its products are sold in the meat case of retail food stores across the U.S. and Canada and 83 other countries.
   • 16 analysts:
     • have an average 12-month price target representing a 23.7% DECREASE from the March 31st price and
     • have a consensus Hold rating (9 Hold, 6 Sell, 1 Strong Sell).
   • In addition, BYND has:
     • a 46% chance of Financial Distress within 2 years,
     • a very high Short Interest of 36.3%,
     • only a 4.5% Insider Ownership and 
     • a current Market Capitalization of $1,080B
   • Read: Beyond Meat is viewed cautiously by BTIG with cash flow still a concern
     • Beyond Meat: Latest Results Provide Little Clarity
     • Beyond Meat Keeps Shrinking And Burning Cash
     • Beyond Meat's Survival Is Unlikely, But May Be Too Dangerous To Short

In total, the munKNEE Plant-Based Food Stocks Index:

• was DOWN 5.8% in March and is now UP 31.4% YTD
• and its constituents have an average 12-month price target representing a 68.1% increase from their average March 31st prices according to the 3 Wall Street analysts following these stocks.

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